Hand Sanitizer Market is anticipated to hit $1.9 billion by 2023 at a CAGR of 7.8%
Americas hold the largest market share in the Hand Sanitizer Market and is anticipated to reach $603.3 million by 2023 at a CAGR of 5.19%. However, Asia-Pacific is projected to witness the highest growth rate and is anticipated to reach $627.2 million by 2023 at a CAGR of 12.6%. Increased awareness and adoption, especially in emerging economies, and continuous product and package innovation by the market players, are the major growth factors that propel the growth of Hand Sanitizer Market globally. The key applications include healthcare, educational institutions, corporate offices, restaurants, and public organizations among others.
Selected Analysis done in the full Report: Value chain for hand sanitizers has been established as an interdependent and complex network, comprising of raw material providers, product providers, contract manufacturing firms, health institutes and distributors. Top players follow a decentralized approach in production, having their manufacturing presence in strategically important, yet low cost countries in each region and serve the end users through local distribution networks. This scenario also boosts the international trade of finished products.
Excerpts on Market Growth Factors Mentioned in the Full Report:
The market for Hand Sanitizers is driven by the growing number of infection cases acquired from hospitals. Advances in product preparations such as adding scents, are offering a new opportunity in the global hand sanitizer market. Highly recommended use of hand purifiers, owing to their effectiveness in killing germs and microorganisms, is projected to drive the sale of hand sanitizing products in the market.
Gels are the widely used form of hand sanitizers globally, and is estimated to reach $1 billion by 2023 at a CAGR of 7.9%
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